Dana Investment Advisors Inc. Sells 47,888 Shares of Comstock Resources, Inc. (NYSE:CRK)

Dana Investment Advisors Inc. reduced its position in shares of Comstock Resources, Inc. (NYSE:CRK - Free Report) by 7.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 561,514 shares of the oil and gas producer's stock after selling 47,888 shares during the period. Dana Investment Advisors Inc. owned approximately 0.19% of Comstock Resources worth $10,231,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. acquired a new position in shares of Comstock Resources during the 3rd quarter worth $25,000. Sunbelt Securities Inc. grew its position in Comstock Resources by 140.0% in the third quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer's stock valued at $27,000 after acquiring an additional 1,400 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in Comstock Resources by 225.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,359 shares of the oil and gas producer's stock worth $64,000 after acquiring an additional 2,326 shares in the last quarter. KBC Group NV raised its stake in Comstock Resources by 46.8% during the fourth quarter. KBC Group NV now owns 6,480 shares of the oil and gas producer's stock worth $118,000 after acquiring an additional 2,066 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new position in shares of Comstock Resources in the third quarter worth about $169,000. 36.13% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Morgan Stanley began coverage on shares of Comstock Resources in a research report on Friday, January 10th. They set an "equal weight" rating and a $18.00 price objective for the company. Truist Financial increased their price target on Comstock Resources from $11.00 to $19.00 and gave the company a "hold" rating in a research note on Monday, January 13th. Citigroup boosted their price objective on Comstock Resources from $12.50 to $15.50 and gave the stock a "neutral" rating in a research report on Friday, December 6th. Piper Sandler upped their price objective on Comstock Resources from $5.00 to $6.00 and gave the company an "underweight" rating in a research note on Wednesday, January 29th. Finally, Mizuho raised Comstock Resources from an "underperform" rating to a "neutral" rating and raised their target price for the stock from $10.00 to $18.00 in a research report on Monday, December 16th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $13.40.

Comstock Resources Trading Up 6.1 %

Shares of Comstock Resources stock traded up $1.04 during midday trading on Friday, reaching $17.96. 2,775,665 shares of the company's stock traded hands, compared to its average volume of 2,849,323. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.60 and a current ratio of 0.46. Comstock Resources, Inc. has a 12 month low of $7.74 and a 12 month high of $22.06. The company has a market cap of $5.26 billion, a PE ratio of -23.62, a price-to-earnings-growth ratio of 1.65 and a beta of 0.55. The stock has a 50 day moving average of $19.10 and a 200-day moving average of $14.94.

Comstock Resources (NYSE:CRK - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.14. The company had revenue of $366.51 million during the quarter, compared to analysts' expectations of $370.62 million. Comstock Resources had a negative net margin of 18.32% and a negative return on equity of 3.10%. As a group, equities analysts expect that Comstock Resources, Inc. will post 0.54 EPS for the current fiscal year.

Insider Activity

In other news, Director Elizabeth B. Davis sold 10,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $16.33, for a total value of $163,300.00. Following the transaction, the director now owns 123,781 shares in the company, valued at $2,021,343.73. This represents a 7.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 38,000 shares of company stock valued at $634,660 in the last 90 days. 2.00% of the stock is currently owned by insiders.

About Comstock Resources

Comstock Resources, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of natural gas and oil properties in the United States. Its assets are located in the Haynesville and Bossier shales located in North Louisiana and East Texas. The company was incorporated in 1919 and is headquartered in Frisco, Texas.